Good MorningEquity markets tried to build on Monday's gains but fell in Tuesday trading by the end of the session. News from Dick's Sporting Goods is among the reasons why. The Q2 report paints a bleak picture for retail; the stock fell more than 20% at the session's low. According to Dick's, rising inventory shrinkage, or theft, is cutting into the bottom line results and significantly impacting the guidance. This is not a new phenomenon but 1 that has worsened over the last 3 quarters and will continue to worsen.
Tuesday's decline in the S&P 500 is important because it showed resistance at the 30-day moving average. If confirmed, this resistance could send the index down to new lows. The next target for solid support is near the 150-day EMA, which is about 2.7% below Tuesday's close; the next target below is another 2.5% to 5% lower. The market sell-off will gain momentum if good news doesn't emerge soon.
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As artificial intelligence consumes more media and investor attention, some investors are considering AI research lab OpenAI. If you're an investor asking yourself, “How can I buy Open AI stock?” — you're in for some unfortunate news. The company is currently privately owned and ... Read the Full Story |
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Sell in May and go away was slightly delayed this year. In 2023, August is the month when investors are finally taking a breather. Historically, the dog days of summer bring more volatility and lower trading volume. That's particularly true in the latter part of August.
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Markets | | | AI is expected to grow significantly over the next 7 years, and this is not an opportunity passive investors should pass up. Several top ETFs give pure-play exposure to AI without the risk that some bring. ETFs like The Roundhill Generative AI & Technology ETF (NYSEARCA: CHAT), The Wisdom Tree A... Read the Full Story |
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Technicals aside, there are several reasons why Zoom Video Communications (NASDAQ: ZM) is ready to rock into a reversal. The point is that the stock is down more than 87% off its pandemically-driven highs, offering an opportunity that long-term investors may not want to pass up.
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Markets | | | A year ago, Chair Jerome Powell warned that to fight high inflation, the Federal Reserve would continue to sharply raise interest rates, bringing “some pain” in the form of job losses and weaker economic growth Read the Full Story |
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Markets | | | Just as it looked like shares of Palo Alto Networks (NASDAQ: PANW) were on the verge of topping July’s all-time high earlier this month, investors of the cyber security stock got a rude awakening. Poor earnings and forward guidance from their competitors Fortinet Inc (NASDAQ: FTNT), ... Read the Full Story |
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Markets | | | While sales of previously occupied U.S. homes fell again last month, the national median home sales price rose to $406,700, marking its first annual increase since January, the National Association of Realtors said Tuesday Read the Full Story |
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Markets | | | Four years into its historic economic meltdown, Lebanon’s political elites, masters at survival, are pushing for a recovery that would sidestep tough reforms demanded by the International Monetary Fund.Economic experts and former officials involved in designing Lebanon’s original IMF-approved recove... Read the Full Story |
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Markets | | | Americans didn’t let persistent inflation and lingering worries about a recession cut into summer spending on eating and drinking out.Retails sales at restaurants and bars surged from May through July compared with a year ago, despite prices remaining relatively elevated for restaurants and bars. Sa... Read the Full Story |
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Markets | | | Dick's Sporting Goods profit slipped in its second quarter and missed Wall Street's expectations as the retailer cut its full-year profit outlook, citing worries over theft at its stores.Shares declined nearly 24% in afternoon trading Tuesday. For the period ended July 29, Dick's earned $244 million... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day MKS Instruments, Inc. provides foundational technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications in the United States, Germany, China, South Korea, and internationally. It operates through Vacuum Solutions Division (VSD), Photonics Solutions Division (PSD), and Material Solutions Division (MSD) segments. The VSD segment provides foundational technology solutions, including pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, electronic control technology, reactive gas generation and delivery, power generation and delivery, and vacuum technology. The PSD segment offers range of solutions, which include lasers, beam measurement and profiling, precision motion control, vibration isolation systems, photonics instruments, temperature sensing, opto-mechanical components, optical elements, systems for flexible PCB laser processing, and laser-based systems, as well as high density interconnect PCB and package manufacturing. The MSD segment develops, process, and manufactures technologies comprising advanced surface modification, electroless and electrolytic plating, and surface finishing for chemistry, equipment, software, and services markets, as well as high-technology applications. In addition, the company sells its products and services through direct sales, network of independent distributors, and sales representatives, as well as websites, including product catalogs. The company was incorporated in 1961 and is headquartered in Andover, Massachusetts. | | View Today's Stock Pick |
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